Hillary Clinton’s big economics speech on Monday was at the left-wing New School in New York City. Her platitudinous message focused on the importance of raising wages for working Americans. She said wage inequality is the “defining economic challenge of our time”.
“You know, over the past few months, I’ve had the opportunity to listen to Americans’ concerns about an economy that still isn’t delivering for them. It’s not delivering the way it should – it still seems to most Americans that I have spoken with that it is stacked for those at the top,” she said for starters.
Here she is admitting that wages are stagnant and the economy isn’t delivering but she’s counting on Americans not noticing that it’s mostly the result of the Obama policies over the last six years because she is promising more of the same with an added intervention on Wall Street for good measure.
We now have 46 million Americans on food stamps up from 31.5 million in 2008 and a record 93 million Americans out of the workforce. In January 2009, there were 80,529,000 Americans who were not participating in the workforce. It’s the lowest participation rate since the late 1970s.
Our economy has gone from a jobless recovery to a low-wage and stagnant-wage job recovery but far more under the Democratic policies of Barack Obama than previous presidents.
Her solution is to make her candidacy into an Obama third term with increased taxes and more freebies, with “investment” being code for taxes.
“We also have to invest in our students and our teachers at every level, and in the coming weeks and months, I will lay out specific steps to improve our schools, make college truly affordable and help Americans refinance their student debt.”
She wasn’t very specific but she did indicate there would need to be more intervention on Wall Street.
Big Government to the rescue!
The recession of 2008 was the result of policies of both parties distorting the mortgage market, causing a housing bubble. Until then, the “trickle-down” economics she condemned was working well.
Uber is one of her targets. As a startup, they’ve classified drivers as contractors. She wants government to intervene in this “on-demand, gig economy” they represent, requiring them to provide what the government thinks is “fair pay and fair scheduling, paid family leave and earned sick days, child care are essential to our competitiveness and growth.”
Hillary thinks new companies need the government to saddle them with costly demands.
Charlie Rose interviewed Carly Fiorina on CBS This Morning Tuesday.
Rose asked, “Speaking of Hillary Clinton, she made yesterday her vision of a ‘Fairness economy to close the income gap,’ and she said ‘The defining economic challenge of our time is raising incomes for the vast majority of Americans whose wages have remained virtually stagnant for 15 years as the costs of housing, college, child care and health care have soared. Do you agree with her on that (indecipherable) on the objective?”
Fiorina responded to the crony capitalism Clinton is espousing.
“I certainly do agree we need to lift the middle class. What I find ironic about her speech, first of all, she said she’d do more than the Affordable Care Act. We know the Affordable Care Act has made health care more expensive, not less expensive. Every prescription she laid out is a recipe for more crony capitalism. What is happening, big government gets big business, we see it in banking, we see it in health care, we see it in the student loan business, which the federal government nationalized, and meanwhile, the real engine of economic growth and job creation and innovation in this country, small businesses, family-owned businesses, community-based businesses, are getting crushed. We’re now for the first time in U.S. history destroying more businesses than we’re creating, so the objective is right, but her policies make the current situation worse.”